‘I want to help the party, but she’s going to hurt me…’
(Claire Russel, Liberty Headlines) Democratic business donors are threatening to vote for President Trump in 2020 if Democrats nominate Elizabeth Warren, an anti-big business, pro-regulation candidate who has threatened to clean out Wall Street throughout her campaign.
Warren’s campaign has continued to gain momentum as Joe Biden, the current frontrunner, wrestles with the consequences of the Ukraine scandal.
But Warren is not an option for Wall Street.
“You’re in a box because you’re a Democrat and you’re thinking, ‘I want to help the party, but she’s going to hurt me, so I’m going to help President Trump,’” a senior private-equity executive told CNBC.
Warren has proposed a string of policies that would hurt big business, including a wealth tax of 2 percent non families with $50 million in assets, and the Stop Wall Street Looting Act, which targets private-equity firms and attempts to hold them responsible for the debts and pension obligations of smaller firms that they purchase.
“They will not support her. It would be like shutting down their industry,” an executive at one of the nation’s largest banks told CNBC.
Some Wall Street executives have begun rallying to Trump already because Warren has “got to be stopped.”
For her part, Warren doesn’t seem fazed.
I’m Elizabeth Warren and I approve this message. https://t.co/2Ewkbm0ZwA
— Elizabeth Warren (@ewarren) September 10, 2019
In fact, she’s doubled down on her anti-Wall Street policies.
I’m fighting for an economy and a government that works for all of us, not just the wealthy and well-connected. I’m not afraid of anonymous quotes, and wealthy donors don’t get to buy this process. I won’t back down from fighting for the big, structural change we need. https://t.co/nx7GczQhHl
— Elizabeth Warren (@ewarren) September 26, 2019